- US chipmaker Intel has reported bumper profits in what it describes as its "best" quarterly results. Net profit came in at $2.9bn (£1.9bn) for the three months to 26 June, against a loss of $398m a year ago - a higher figure than analysts expected.
- Mining giant Rio Tinto is investing $200m (£150m) in an expansion of iron ore operations in Western Australia - less than two weeks after a row over a proposed mining tax was settled.
- Nigeria's state oil firm is insolvent, unable to pay debts of $5bn (£3.3bn), a government minister has said. Junior Finance Minister Remi Babalola said the Nigerian National Petroleum Corporation had asked for help to cover its debts and fund its operations.
- Comprehensive legislation to regulate the US financial sector is one step closer to becoming law. Senate Majority Leader Harry Reid is planning a vote later this week, after four undecided senators said in recent days that they would vote for the bill.
- US book retailer Borders has agreed a deal to sell UK-based stationery group Paperchase to private equity group Primary Capital for $31m (£20m). Borders said it would use the proceeds from the sale to reduce debt levels and would continue to carry Paperchase products in its US stores.
- US aluminium-maker Alcoa has reported a return to profit as sales surged in the three months to the end of June. Net profit came in at $136m (£91m) for the quarter, compared with a loss of $454m a year earlier, and a loss of $201m in the previous three months.
- Visits abroad by UK residents fell by 15% in 2009, the fastest rate since the 1970s, according to the Office for National Statistics (ONS). A total of 58.6 million trips were made last year, 10.4 million fewer than in 2008.
BBC Business News 14th July 2010
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